Warren Buffett’s decision to trim Apple shares at the end of last year cost Berkshire Hathaway up to $18 billion, after the billionaire investor in May admitted that selling those Apple shares was “probably a mistake.”
AAPL closed on a record high yesterday, which would have seen Berkshire’s pre-sell-off stake worth $146B. Business Insider notes that the 12% sell-off reduced the value of the holding to $128B.
The investor has more than tripled his money on Apple in the past three years – but he would have quadrupled it if he didn’t sell a chunk of the holding.
Buffet sold 9.81 million shares at the end of 2020, admitting in May that this was his decision against the advice of Berkshire VP Charlie Munger.
That was probably a mistake… Charlie in his usual low key way let me know he thought it was a mistake, too… It’s an extraordinary business…
MacDailyNews Take: There’s no “probably” about it. Own it. Don’t trade it.
Tell me again how he’s such a financial genius
No one knows what he did with the proceeds of the sale, I am sure they didn’t just sit around. That man is one of the very few folks who built a business even more profitable than Apple.
he put the proceeds in DogeCoin 🙂
I don’t even know how to respond to something so stupid. Read his bio and come back. He doesn’t really invest in tech companies anyway and made a shit ton of money from Apple.
He probably sold Apple then invest in other stocks.
In this crowd the universe consist of Apple and the rest is there to support it.
Old investing proverb: One never goes broke by taking profit.
Exactly!
Only $18B lost. That’s like pocket change to those wealthy dudes. They really make me laugh considering how so many people were actually struggling to survive due to the virus at that time.
And it’s not even LOST money. He took profit… he didn’t LOSE anything. There’s no talk of what that stock was put IN to.
Even if you LOVE Apple… diversification isn’t a BAD thing. It reduces overall short-term risk. You reduce the POTENTIAL for large profit, but also reduce risk and volatility.
If AAPL had tanked (temporarily) and that money had gone into biotech firms which skyrocketed… then you could take profit and buy AAPL on the cheap (relatively).
MDN obviously doesn’t fully comprehend how diversification lowers overall risk while providing a steady gain.
Makes me feel better about the $600k I could have now if I hadn’t chickened out investing $12k 12 years ago.
Nah, it doesn’t. 😢
The Oracle of Omaha made two HUGE mistakes in 2020. Selling Apple and backing Biden. Aaahhh, the smell of Schadenfreude in the morning…
You think Buffett is in any way regretting supporting the presidential winner?
Coincidentally, since the prior administration loved to take credit for stock gains, what happened today Goeb????
New S&P500 all time high.
No go back to your basement and use your crayons to color Firsty’s Twump’24 MAGA signs. Printed in China.